EX-4.6



 Exhibit 4.6 

FORM OF 
 RESTRICTED
STOCK/RESTRICTED STOCK UNIT AWARD AGREEMENT 
 FOR COASTAL FINANCIAL CORPORATION 

2018 OMNIBUS INCENTIVE PLAN 

                     (the
“Participant”) is hereby granted a [restricted stock]/[restricted stock unit] award (the “Award”) by Coastal Financial Corporation (the “Company”) pursuant to the Coastal Financial Corporation
2018 Omnibus Incentive Plan (the “2018 Plan”). The Award is subject to the terms and conditions of the 2018 Plan and this Restricted Stock/Restricted Stock Unit Award Agreement (“Award Agreement”). 

 

					
	1.	  	Type of Award	  	             Restricted Stock
			
		  		  	             Restricted Stock Unit
			
	2.	  	Number of Shares Subject to Your Award:	  	                 shares of Common Stock (“Shares”), subject to adjustment as may be necessary pursuant to the 2018
Plan.
			
	3.	  	Grant Date:	  	            , 20    

 Unless sooner vested in accordance with Section 3 of the Terms and Conditions (attached hereto) or
otherwise in the discretion of the Committee, the restrictions imposed under Section 2 of the Terms and Conditions will expire as to the following percentages of the Shares awarded hereunder, on the dates noted below; provided that the
Participant is still employed by or in service with the Company or any Affiliate: 
  

									
	 Percentage of

Shares Vesting
	  	Number of
Shares/Stock Units
Vesting	 	  	Vesting Date	 
		  				  			
		  				  			
		  				  			

 IN WITNESS WHEREOF, Coastal Financial Corporation, acting by and through the Compensation Committee of the
Board of Directors, has caused this Award Agreement to be executed as of the Grant Date set forth above. 
  

					
		 	COASTAL FINANCIAL CORPORATION
			
		 	By:	 	  

		 		 	On behalf of the Compensation Committee
	Accepted by Participant:	 		 	
			
	                                     
               	 		 	
			
	                                     
               	 		 	
	Date	 		 	








 TERMS AND CONDITIONS 
  

	1.	Grant. The Grant Date and number of Shares underlying your Award are stated on page 1 of this Award Agreement. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such
terms in the 2018 Plan. 

  

	2.	Restrictions. Your Award is subject to the following restrictions: 

  

	 	(a)	Unvested Restricted Shares/Restricted Stock Units may not be sold, transferred, exchanged, assigned, pledged, hypothecated or otherwise encumbered. 


 

	 	(b)	If your employment or service with the Company or any Affiliate terminates for any reason other than as set forth in paragraph (b) of Section 3 hereof, then you will forfeit all of your rights, title and
interest in this Award as of your termination date. 

  

	 	(c)	Your Award is subject to the vesting schedule set forth on page 1 of this Award Agreement. 

  

	3.	Expiration and Termination of Restrictions. The restrictions imposed under Section 2 will expire on the earliest to occur of the following (the period prior to such expiration being referred to herein as the
“Restricted Period”): 

  

	 	(a)	As to the percentages of the Restricted Shares/Restricted Stock Units specified in the vesting schedule on page 1 of this Award Agreement, on the respective dates specified in the vesting schedule on page 1; provided
your Continuous Status as a Participant has not terminated; or 

  

	 	(b)	Upon termination of your Continuous Status as a Participant by reason of death or disability. 

  

	4.	Change of Control. Upon a Change of Control, the Restricted Shares/Restricted Stock Units shall be treated in accordance with Section 10 of the 2018 Plan. 


 

	5.	(a) Delivery of Shares – Restricted Stock Award. Once the Shares are vested (see vesting schedule on page 1), the Shares (and accumulated dividends and earnings, if any) will be distributed in
accordance with your instructions. 

 (b) Delivery of Shares – Restricted Stock Units. Once the Stock Units are
vested (see vesting schedule on page 1), the Shares (or if the Committee so elects, in lieu thereof, the fair market value of the Shares in cash ) will be distributed in accordance with your instructions. 

 

	6.      (a)	Voting and Dividend Equivalent Rights – Restricted Stock Award. As beneficial owner of the Shares, you have full voting and dividend equivalent rights with respect to the Shares during and after the
Restricted Period. You are also entitled to receive a payment equal to any dividends, or other distributions declared and paid by the Company with respect to the Restricted Shares. If you forfeit your rights under this Award Agreement in accordance
with Section 2, you will no longer have any rights as a shareholder with respect to the Restricted Shares and you will no longer be entitled to receive dividends on the Shares. 









	 	(b)	Voting and Dividend Equivalent Rights – Restricted Stock Units. You have no voting or dividend equivalent rights until you receive a distribution of Shares. 


 

	7.	No Right of Continued Employment. Nothing in this Award Agreement will interfere with or limit in any way the right of the Company or any affiliate to terminate your employment or service at any time, nor confer
upon you any right to continue in the employ or service of the Company or any affiliate. 

  

	8.	Payment of Taxes. You may make an election to be taxed upon your Award under Section 83(b) of the Code within 30 days of the Grant Date. If you do not make an 83(b) Election, upon vesting of the Award
the Committee is entitled to require as a condition of delivery: (i) that you remit an amount sufficient to satisfy any and all federal, state and local (if any) tax withholding requirements and employment taxes (i.e., FICA and FUTA),
(ii) that the withholding of such sums come from compensation otherwise due to you or from Shares due to you under the 2018 Plan, or (iii) any combination of the foregoing. Any withholding shall comply with Rule 16b-3 under the Exchange Act or any amendments or successive rules. 

  

	9.	Plan Controls. The terms contained in the 2018 Plan are incorporated into and made a part of this Award Agreement and this Award Agreement shall be governed by and construed in accordance with the 2018 Plan. In
the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Agreement, the provisions of the Plan will control. 

  

	10.	Successors. This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Award Agreement and the 2018 Plan. 


 

	11.	Severability. If any one or more of the provisions contained in this Agreement is deemed to be invalid, illegal or unenforceable, the other provisions of this Agreement will be construed and enforced as if the
invalid, illegal or unenforceable provision had never been included in this Agreement. 

  

	12.	Notice. Notices and communications under this Agreement must be in writing and either personally delivered or sent by registered or certified United States mail, return receipt requested, postage prepaid. Notices
to the Company must be addressed to: 

 [INSERT CONTACT] 

or any other address designated by the Company in a written notice to you. Notices to you will be directed to your address as then currently
on file with the Company, or at any other address that you provide in a written notice to the Company.